Organization: Old Mutual Position: Associate Financial Advisor / Practice Owner (Track) Location: Nationwide (Agency Franchise Division) Compensation: Commission + Practice Building Support & Development Bonuses Contract: Permanent / Franchise Track
For the entrepreneurial professional who feels limited by a fixed salary, the Old Mutual Associate Financial Advisor program offers the ultimate career pivot. This is not just a job; it is a structured pathway to owning your own wealth management practice under the umbrella of Africa’s most trusted financial services brand.
In 2026, Old Mutual is actively recruiting Associate Financial Advisors—professionals with existing business acumen or networks—who are ready to transition into the financial sector. Unlike entry-level agent roles, the “Associate” track is designed for mature candidates (e.g., former teachers, bank managers, real estate agents, or nurses) who bring life experience and credibility to the table.
This role solves the biggest hurdle for new entrepreneurs: Risk. Old Mutual provides the office infrastructure, the compliance framework, the brand authority, and the training academy, allowing you to focus 100% on building your client book. You are in business for yourself, but not by yourself.
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Table of Contents
Background & Job Description
The Associate Financial Advisor role serves as the incubator for Old Mutual’s future Franchise Principals. You will join an established Agency Franchise or Area Office, working under the mentorship of a Senior Financial Planner.
Your mandate is to build a sustainable portfolio of clients. However, unlike a traditional sales rep who just “moves product,” you are trained to build a Holistic Financial Planning Practice. This means your goal is to manage a client’s entire financial lifecycle—from their first retirement annuity to their estate planning and children’s education funds.
This position fits into broader organizational goals by expanding Old Mutual’s footprint in the “Mass Affluent” and “Middle Market” segments. By empowering you to build a personal brand within your community, Old Mutual ensures deep, long-lasting client retention.
Key Responsibilities
As an Associate Financial Advisor, you are building a business asset. Your daily activities reflect those of a business owner.
- Practice Development & Networking:
- Leverage your existing “natural market” (former colleagues, community groups, church networks) to secure your first 50 clients.
- Host financial literacy workshops or “Wellness Days” at local companies to generate leads for Employee Benefits and Group Schemes.
- Implement a referral system to turn satisfied clients into your primary marketing channel.
- Holistic Financial Planning:
- Utilize Old Mutual’s Xplan or similar financial planning software to model wealth scenarios for clients.
- Advise on a comprehensive suite of products: Risk Cover (Life/Disability), Savings & Investments, Retirement Annuities, and Short-Term Insurance.
- Conduct annual “Financial Health Checks” to ensure clients remain on track, triggering “new business” opportunities from existing clients.
- Business Management & Compliance:
- Manage your own “practice” activity logs, ensuring you meet the activity metrics required to qualify for Office Support Benefits (e.g., administrative assistants).
- Adhere to strict FAIS and FICA compliance standards to protect your license and the Old Mutual brand.
Associate Financial Advisor 2026: Old Mutual | Build Your Own Practice (Support Provided)
Qualifications
This “Associate” track has higher entry requirements than the standard “Aspiring” advisor role, as it targets individuals with professional maturity.
Education & Certification
- Matric / High School Diploma: Mandatory (Mathematics/Accounting preferred).
- Tertiary Qualification: A Degree or Diploma (in any field, e.g., Teaching, Nursing, HR, Marketing) is highly preferred as it reduces the years of required work experience.
- RE5 (Regulatory Exam): Ideally, you already hold your RE5. If not, you must be willing to complete it within a strict deadline (often 6 months).
Experience
- Professional Track Record:
- With a Degree: Minimum 3 years of working experience in any professional field.
- With Matric only: Minimum 8 years of working experience (demonstrating stability and network building).
- Network Access: You must demonstrate that you have access to a market (e.g., “I was a headmaster for 10 years, I know all the teachers in the district”).
- Assets: A valid Driver’s License and your own Vehicle are non-negotiable mandatory requirements.
Core Competencies
- Entrepreneurial Mindset: You treat this role as a business, not a salary.
- Social Capital: You are a respected member of your community with a wide circle of influence.
Why Apply for This Position
1. The “Franchise” Trajectory Successful Associates are often fast-tracked to become Franchise Principals. This allows you to eventually hire your own junior advisors, earn overrides on their production, and build a sellable business asset.
2. Support Provided (The “Safety Net”) Starting a business is expensive. Old Mutual absorbs the heavy lifting:
- Infrastructure: Free use of office space, internet, and telephones.
- Mentorship: Daily coaching from a Development Manager (PDM) who helps you close complex deals.
- Admin Support: Centralized processing for new business applications, so you don’t get bogged down in paperwork.
3. “Vestment” of Income In many Old Mutual contracts, once your book reaches a certain size, you earn the right to “recurring income” (annuity income) that continues to pay out even if you take a break. This creates true passive income over time.
4. Transition Allowances Recognizing the risk of switching careers, Old Mutual often provides a “Training Allowance” or “Bridging Salary” for the first 3-6 months to stabilize your cash flow while you build your commission pipeline.
Application Tips & Insights
1. The “Business Plan” Pitch Treat the interview like a pitch to an investor. Do not just bring a CV; bring a 30-60-90 Day Business Plan. Show the manager exactly how you plan to acquire clients in your first 3 months.
- Example: “Month 1: Contact 50 former colleagues. Month 2: Host a retirement seminar at my local church.”
2. Leverage Your “Former Life” If you were a Nurse, pitch yourself as a “Financial Advisor for Medical Professionals.” If you were a Teacher, pitch yourself as a “Government Employee Benefits Specialist.” Specialization implies expertise and instantly differentiates you from generalists.
3. Address the “Car” Requirement This is often a knockout question. Explicitly state on your CV: “Own Vehicle and Valid Driver’s License.” If you don’t have this, your application will likely be auto-rejected by the system.
4. Highlight “Stability” Since this role targets mature candidates, highlight your longevity in previous roles. “10 years as a Senior Teacher” signals to Old Mutual that you are reliable, disciplined, and have deep roots in the community—key traits for a successful practice owner.
Additional Information
- Income Potential:
- Year 1: $15k – $30k (Survival/Building Phase).
- Year 3: $40k – $80k+ (Established Phase).
- Top Performers: $100k+ (Wealth Management Phase).
- Contract: Performance-Based Permanent Contract.
- Benefits:
- Production Bonuses (Quarterly).
- Offshore Convention Trips (for top producers).
- Subsidized Medical Aid & Provident Fund (subject to contract tier).
- Location: You will likely be attached to the nearest Agency Franchise Office but will spend 80% of your time in the field.
How to Apply
- Visit the Portal: Go to the Old Mutual Careers website.
- Search: Use keywords “Associate Financial Advisor,” “Established Financial Planner,” or “Commission Based.”
- Filter: Select “Agency Franchise Division” or “Personal Financial Advice.”
- Upload: Submit your CV and a cover letter that outlines your “Natural Market” (who you know).
Pro Tip: If you know an existing Old Mutual Manager, ask for a “Referral Link.” Managers are often incentivized to recruit high-quality associates and will champion your application.
Frequently Asked Questions
Q: Is there a basic salary? A: Usually, there is a “Training Allowance” (a diminishing basic salary) for the first 12-24 months. This is designed to support you while you build up your commission earnings. After this period, you typically move to 100% commission, which offers much higher earning potential.
Q: Can I do this part-time? A: No. Old Mutual requires full-time focus to succeed in this program. The training and regulatory requirements alone (RE5, Product Training) are intensive.
Q: What happens if I don’t pass the RE5 exam? A: You are strictly required by the FSCA regulator to pass this exam within a set period (usually 12-24 months from appointment). If you fail to do so, you cannot legally give financial advice, and your contract will be terminated. Old Mutual provides study support to help you pass.
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